ISG Share Discussion Threads

[markie7] 22/2/2016 19:44

Did someone seriously buy at 175p today? They are going to regret that I think!

[qs99] 17/2/2016 09:50

Great effort by Cathexis played a blinder IMO....ISG board IMO not covered themselves in glory at all....pretty well a defence of "please don't buy us" but with little activity to boost the offer it would seem....

[edmundshaw] 17/2/2016 09:33

As an independent observer now, I reckon Cathexis had management over a barrel. Of course there might be sweeteners for some board members we don't know of (perfectly legal ones I mean, like would you like to keep your job), however with 48% of the shareholder vote they could almost run the ship and no-one except Cathexis would benefit much from that.

An opportunistic bid from Cathexis, but with the FTSE fall it lookd like some big holders got worried into selling up to the bidder, so looking like a smart and successful (if rather unwanted) move from Cathexis. Only three things certain in life imo: death, taxes and predators...

[salpara111] 17/2/2016 09:16

Therein lies the problem they need 75% so unless a number of big holders roll over they simply wont get there and that leaves the company as a zombie as the management are effectively hobbled in terms of making any big corporate decisions.
As an observer it is certainly an interesting and learning experience.

[nocton] 17/2/2016 09:05

Yes, the board has once again let shareholders down. Cathexis will still want to buy more shares to get to 75%. But maybe they can get this from two or three larger shareholders, now that the board has capitulated.

[markie7] 17/2/2016 07:10

48.4%! Close...

[markie7] 16/2/2016 12:18

and 1.465m just gone through. I think that might be it....

[markie7] 16/2/2016 11:53

unless that is both sides of the trade, in which case it is c.45% now held.

[markie7] 16/2/2016 11:53

that is about 11% I think. If I am right, then this is done. They have got to 50%

[markie7] 16/2/2016 11:51

OK - but 5.8m shares just traded at 171 - someone big has just folded.

[bouleversee] 16/2/2016 11:25

I'm hanging on. Hope there are not enough short term inners and outers to ruin things for us long-termers.

[markie7] 16/2/2016 09:37

I've sold. in at 150, out at c171. I don't trust this to hold its value if the bid lapses, and can't compute the odds properly as this is an unusual situation. It will be very hard to get institutional shareholders in the future if there is a 40% holder, and they will have much more influence. Will therefore find somewhere else to play.

Now, I bet there is a counter bid in the next hour...now I have done that

[nocton] 16/2/2016 08:13

Another, more likely IMO, option is that once the distraction of the bid is out of the way the shares will rise steadily as the true potential of the company becomes apparent. After all, why do Cathexis want to buy it at 171p? Because they are sure that it will be worth a lot more in the future. So there is no way that I am selling at this price.

[markie7] 15/2/2016 22:24

Anything possible. Market saying no though

[bouleversee] 15/2/2016 22:13

I think Markie meant a higher offer from another party. Could still happen, couldn't it?

[killieboy] 15/2/2016 20:05

Gucci - Wed 1300hrs

[gucci] 15/2/2016 16:55

When is the deadline to accept

[vulgaris] 15/2/2016 16:29

Thanks ExBroker..... That's what I thought.

[exbroker] 15/2/2016 16:23

The offer is final so cant be increased.

[markie7] 15/2/2016 12:21

only thing you have lost if you sell, is the chance to benefit from any higher offer.

[vulgaris] 15/2/2016 12:09

Little to lose by selling in the market at 171p. Either the bid goes thru' and you'll get the same 171p, or it lapses and the price will likely fall allowing you to get back in at a cheaper price.

The calculation is different, of course, if you hold such a slab of the company that you can tip the balance of success or failure.

[markie7] 15/2/2016 11:51

so, is this stalemate? a 38% holder, without the 50% required?

Choices now seem to be as follows:

Sell today - and get 171p or pretty close. If offer lapses, then price may fall (given market - so if you wanted to, you could probably buy back at 140 or something similar)

Accept - but this runs the risk of not getting paid out as the offer may lapse

Ignore - Ditto, offer may lapse and price may fall.